SVMK, the parent of DIY survey software company SurveyMonkey, began trading on the Nasdaq stock market this week, pricing 15m shares of its common stock at $12.00 per share and thereby raising $180m.
The firm filed its IPO at the end of August and the offering is expected to close today. On the first day of trading, the share price soared 67% to nearly $20, although today they have settled back to around $15-16.
SurveyMonkey reported a net loss of $27.2m for the first half of 2018, after a loss of $19.1m in the prior year period. Part of the proceeds from the IPO will be used to pay down debt and meet income tax obligations related to a restricted stock unit (RSU) settlement. Zander Lurie (pictured), CEO of SurveyMonkey, commented: 'We are proud to partner with Nasdaq as we enter our next chapter as a public company'.
Web site: www.surveymonkey.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.